Civic Intelligence

Emerging Technology Centers Inc.

990 • Fiscal year 2019 • EIN 52-1732432

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 13, 2020

101 N Haven StBaltimore, MD 21224

(443) 451-7000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.36x

Higher debt load relative to assets than 76% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

45th percentile

0.07x

Higher debt load relative to revenue than 45% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

88th percentile

38%

Higher net margin than 88% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

92nd percentile

$229,494

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 9.5% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

4th percentile

-28%

Faster asset growth than 4% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

79th percentile

26%

Faster revenue growth than 79% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$442,042

Down $173,208 (-28%) from 2018

Net Assets

Up

$281,202

Up $4,589,251 (+107%) from 2018

Liabilities

Down

$160,840

Down $4,762,459 (-97%) from 2018

Revenue

Up

$2,416,043

Up $496,565 (+26%) from 2018

Expenses

Down

$1,488,980

Down $897,303 (-38%) from 2018

Net Income

Up

$927,063

Up $1,393,868 (+299%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0-$5.0M-$10MAssets 2011: $1,436,850Liabilities 2011: $6,625,793Net Assets 2011: -$5,188,9432011Assets 2012: $1,539,484Liabilities 2012: $7,028,243Net Assets 2012: -$5,488,7592012Assets 2013: $1,458,476Liabilities 2013: $3,755,248Net Assets 2013: -$2,296,7722013Assets 2014: $1,159,066Liabilities 2014: $3,943,434Net Assets 2014: -$2,784,3682014Assets 2015: $1,006,855Liabilities 2015: $4,176,673Net Assets 2015: -$3,169,8182015Assets 2016: $1,027,732Liabilities 2016: $4,492,076Net Assets 2016: -$3,464,3442016Assets 2017: $834,400Liabilities 2017: $4,675,644Net Assets 2017: -$3,841,2442017Assets 2018: $615,250Liabilities 2018: $4,923,299Net Assets 2018: -$4,308,0492018Assets 2019: $442,042Liabilities 2019: $160,840Net Assets 2019: $281,2022019Assets 2020: $540,556Liabilities 2020: $144,865Net Assets 2020: $395,6912020Assets 2021: $553,000Liabilities 2021: $170,982Net Assets 2021: $382,0182021Assets 2022: $513,249Liabilities 2022: $112,630Net Assets 2022: $400,6192022Assets 2023: $455,657Liabilities 2023: $25,150Net Assets 2023: $430,5072023Assets 2024: $851,060Liabilities 2024: $40,687Net Assets 2024: $810,3732024

Highlighted filing

2019

Assets$442,042
Liabilities$160,840
Net Assets$281,202

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,923,389Expenses 2011: $2,609,680Net Income 2011: -$686,2912011Revenue 2012: $2,429,851Expenses 2012: $2,729,667Net Income 2012: -$299,8162012Revenue 2013: $2,355,829Expenses 2013: $2,571,250Net Income 2013: -$215,4212013Revenue 2014: $2,019,656Expenses 2014: $2,507,252Net Income 2014: -$487,5962014Revenue 2015: $1,800,303Expenses 2015: $2,185,753Net Income 2015: -$385,4502015Revenue 2016: $1,867,357Expenses 2016: $2,161,883Net Income 2016: -$294,5262016Revenue 2017: $1,946,102Expenses 2017: $2,323,002Net Income 2017: -$376,9002017Revenue 2018: $1,919,478Expenses 2018: $2,386,283Net Income 2018: -$466,8052018Revenue 2019: $2,416,043Expenses 2019: $1,488,980Net Income 2019: $927,0632019Revenue 2020: $1,055,414Expenses 2020: $940,925Net Income 2020: $114,4892020Revenue 2021: $1,006,591Expenses 2021: $1,020,264Net Income 2021: -$13,6732021Revenue 2022: $1,063,533Expenses 2022: $1,055,326Net Income 2022: $8,2072022Revenue 2023: $843,299Expenses 2023: $813,411Net Income 2023: $29,8882023Revenue 2024: $755,148Expenses 2024: $375,282Net Income 2024: $379,8662024

Highlighted filing

2019

Revenue$2,416,043
Expenses$1,488,980
Net Income$927,063
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 13, 2020
Return Version
2018v3.1
Gross Receipts
$2,416,043
Mission and Program Overview

Mission

To foster a transformative community of tech-savvy, innovative, entrepreneurial people looking for creative collaboration to accelerate their growth potential and make a powerful economic impact on the City of Baltimore and beyond.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$393,228$337,741▼ $55,487
Cash and Non-Interest-Bearing Accounts$99,661$86,485▼ $13,176
Land, Buildings, and Equipment, Net$72,170$0▼ $72,170
Prepaid Expenses and Deferred Charges$25,126$17,816▼ $7,310
Accounts Receivable$13,765$0▼ $13,765
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$615,250$442,042▼ $173,208
Other Assets Total$11,300$0▼ $11,300
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,015,922--
Other Liabilities$154,576$78,409▼ $76,167
Accounts Payable and Accrued Expenses$3,736,683$74,858▼ $3,661,825
Deferred Revenue$16,118$7,573▼ $8,545
Total Liabilities$4,923,299$160,840▼ $4,762,459
Net Assets / Fund Balance
Unrestricted Net Assets$-4,308,049$281,202▲ $4,589,251
Total Net Assets Fund Balance$-4,308,049$281,202▲ $4,589,251
Total Liabilities and Net Assets / Fund Balance$615,250$442,042▼ $173,208

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$2,180,928$2,180,928
Compensation and Service Providers

Employees

NameTitleOtherTotal
Deborah TillettPresident$142,939$142,939

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,123,590
Program Service Revenue
$291,672
Investment Income
$781
Other Revenue
$0
All Other Contributions
$1,271,680
Change in Net Assets
$927,063

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$980,480Fair Market Value (FMV)
Total Noncash Contributions1$980,480-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$830,375
Salaries, Compensation, and Employee Benefits$433,605
Grants and Similar Amounts Paid$225,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$524,002$13,427-$537,429
Grants to Domestic Orgs$225,000--$225,000
Other Salaries and Wages$138,046$65,731-$203,777
Office Expenses$109,940$13,638-$123,578
Current Officers, Directors, Trustees, and Key Employees$68,659$45,772-$114,431
Other Employee Benefits$60,892$32,788-$93,680
Depreciation Depletion$70,366$1,804-$72,170
Interest$31,368$804-$32,172
Advertising$18,101$9,759-$27,860
Payroll Taxes$14,116$7,601-$21,717
Travel$7,388$11,695-$19,083
Fees for Services Accounting-$10,000-$10,000
Fees for Services Other$7,069$181-$7,250
Other Expenses-$833-$833
Total Functional Expenses$1,274,947$214,033$0$1,488,980
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
IsItGood IncBaltimore, MD-Economic Development$50,000
SpotsWash LLCBaltimore, MD-Economic Development$50,000
Blood Sweat & GearsBaltimore, MD-Economic Development$25,000
Gami LLCBaltimore, MD-Economic Development$25,000
MoJoe Brewing Co LLCBaltimore, MD-Economic Development$25,000
ReVased LLCBaltimore, MD-Economic Development$25,000
Vagrant Coffee LLCBaltimore, MD-Economic Development$25,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred lease expense$57,925
Tenant security deposits$20,484
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

A draft of the 990 is distributed to the Board for review prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Board members are required to disclose conflicts of interest. Policy is signed annually.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The Executive Director and other top officials' salaries are set by the City of Baltimore Development Corporation.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Available on site upon request.

Filing and Contact Details

Filer

Filer Name
Emerging Technology Centers Inc
EIN
52-1732432
Phone
4434517000
Address
101 N Haven St, Baltimore, MD 21224

Signing Officer

Name
Deborah Tillett
Title
President
Signed
2020-04-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deborah Tillett
Formed
1991
Legal Domicile
Md
Voting Board Members
12
Independent Board Members
10
Employees
0
Volunteers
34

Preparer

Firm
KL Hoffman & Company PC
Address
2809 BOSTON ST, BALTIMORE, MD 21224
Preparer
Karen L Hoffman CPA
Phone
4439901005
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

Recovery of rental cash flow contingency = $3662188

Financial Statement Notes

Part X : FIN48 Footnote

The Internal Revenue Service has not examined (audited) any income tax returns of the Organization thus the previous three (3) years are subject to examination. The Organization has not taken any questionable tax positions with respect to unrelated business income tax or anything that would jeopardize its 501(c)(3) status.

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IRS990/InterestGrp/ManagementAndGeneralAmt0804
IRS990/InterestGrp/ProgramServicesAmt031368
IRS990/InterestGrp/TotalAmt032172
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0To foster a transformative community of tech-savvy, innovative, entrepreneurial people looking for creative collaboration to accelerate their growth potential and make a powerful economic impact on the City of Baltimore and beyond.
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt013638
IRS990/OfficeExpensesGrp/ProgramServicesAmt0109940
IRS990/OfficeExpensesGrp/TotalAmt0123578
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IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/BOYAmt011300
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt03662188
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt032788
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt060892
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0833
IRS990/OtherExpensesGrp/TotalAmt0833
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IRS990/OtherLiabilitiesGrp/EOYAmt078409
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt065731
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0138046
IRS990/OtherSalariesAndWagesGrp/TotalAmt0203777
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07601
IRS990/PayrollTaxesGrp/ProgramServicesAmt014116
IRS990/PayrollTaxesGrp/TotalAmt021717
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt025126
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt017816
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11436
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt25863
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11436
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25863
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IRS990/PYContributionsGrantsAmt01156426
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0250000
IRS990/PYInvestmentIncomeAmt0286
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IRS990/PYOtherExpensesAmt01694947
IRS990/PYOtherRevenueAmt0255
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IRS990/PYSalariesCompEmpBnftPaidAmt0441336
IRS990/PYTotalExpensesAmt02386283
IRS990/PYTotalRevenueAmt01919478
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0927063
IRS990/RegularMonitoringEnfrcInd0true
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0291672
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0393228
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0337741
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01156426
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01121031
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01022406
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01006049
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt05449022
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0781
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0286
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0212
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0418
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0899
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0291672
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0762511
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0824077
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0844208
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0792505
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt03514973
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0781
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0286
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0212
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0418
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0899
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02596
IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00030
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0255
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0782
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0325
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0850
IRS990ScheduleA/OtherIncome509Grp/TotalAmt02212
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99950
IRS990ScheduleA/PublicSupportPY509Pct00.99940
IRS990ScheduleA/PublicSupportTotal509Amt08963995
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01434782

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.85$0.04$0.81$0.76$0.38$0.38
2023Detailed filing. Detailed filing data is available for this year.$0.46$0.03$0.43$0.84$0.81$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.51$0.11$0.40$1.06$1.06$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.55$0.17$0.38$1.01$1.02$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.54$0.14$0.40$1.06$0.94$0.11
2019Detailed filing. Detailed filing data is available for this year.$0.44$0.16$0.28$2.42$1.49$0.93
2018Detailed filing. Detailed filing data is available for this year.$0.62$4.92$4.31$1.92$2.39$0.47
2017Detailed filing. Detailed filing data is available for this year.$0.83$4.68$3.84$1.95$2.32$0.38
2016Detailed filing. Detailed filing data is available for this year.$1.03$4.49$3.46$1.87$2.16$0.29
2015Detailed filing. Detailed filing data is available for this year.$1.01$4.18$3.17$1.80$2.19$0.39
2014Detailed filing. Detailed filing data is available for this year.$1.16$3.94$2.78$2.02$2.51$0.49
2013Summary only. Only limited summary data is available for this year.$1.46$3.76$2.30$2.36$2.57$0.22
2012Summary only. Only limited summary data is available for this year.$1.54$7.03$5.49$2.43$2.73$0.30
2011Summary only. Only limited summary data is available for this year.$1.44$6.63$5.19$1.92$2.61$0.69